MLS expansion team, New York City Football Club, purchased by Yankees and Manchester City

MLS Commissioner Don Garber announced the acquisition of the league's 20th expansion team, the New York City Football Club, by the New York Yankees and Manchester City. (Mike Stobe/Getty Images)

Major League Soccer announced that the Yankees and Manchester City FC had jointly acquired the league's 20th expansion team, the New York City Football Club. The final announcement came after three years of discussions and negotiations.

"We proudly welcome two of the most prestigious professional global sports organizations to Major League Soccer. This is a transformational development that will elevate the league to new heights in this country.

New York is home to another MLS team, the Red Bulls, and Garber said the league hoped to create a crosstown rivalry between the two. Ferran Soriano, CEO of Manchester City also mentioned his excitement about joining the flourishing New York sports scene. From the MLS statement:

"New York is a legendary sports town, as well as a thriving global city with a rapidly expanding soccer fan-base," said Ferran Soriano, CEO of Manchester City. "We are thrilled to contribute to the energy and growth of New York City Soccer. In the Yankees, we have found the absolute best partner for developing a world-class sports organization and a winning team that will carry the New York City Football Club name with pride."